Reparations for black residents could cost California more than $800 billion

Paying reparationsto black residents could cost California over $800 billion, putting the state more than 2.5 times over its annual budget amount, according to economic analysts.

California officials would need to spend more than$ 800 billion on those payments in an effort to make up for generations of racial discrimination, overpolicing, and other policies. The additional payments of$ 1 million to each older black resident who experiences health disparities are not included in that top-line number, nor are those whose homes or businesses have had their values reduced by the state government.

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The projections are made as the state reparations task force prepares to visit on Wednesday to go over the last budget before approving it and sending it to the legislature. A consulting group made up of five economists and policy experts — created by Gov. — calculated the current proposal. Gavin Newsom in 2020( D – CA ).

However, given the high cost, it’s likely that state lawmakers will never approve those payments, forcing task force members to think about different ways to sell the plan.

Assemblymember Reggie Jones – Sawyer told the Associated Press,” We’ve got to go in with an open mind and come up with some creative ways to deal with this.”

By July 1st, task force members must agree on a closing price amount; state legislators will then consider the plan.

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The compensation request follows Newsom’s signing of legislation in 2020 to establish a task force tasked with determining the financial costs of racial discrimination policies in the state. Combined reactions greeted that action, with some supporting fixture obligations while others resisted for high costs.

The state Assembly and Senate will consider the budget if it is approved by the job force. The policy would be presented to Newsom for last agreement if it were to be passed.